Samsung posts record earnings as smartphone strategy pays off
Net income rose 42% from a year earlier to 7.15 trillion won (€4.9 billion) in the three months ended March, Samsung said in a statement yesterday. Sales of its smartphones jumped 56% to 69.4 million units, almost double the number of iPhones sold by Apple, Strategy Analytics said.
Demand for Samsung’s devices, including the flagship Galaxy S4 that goes on sale today and cheaper phones targeting emerging markets, are stoking sales in the €275bn handset market and driving most of the South Korean company’s profits. Samsung said competition in the market, which is already slowing Apple’s growth, may intensify this year.
